Dubai non-oil trade hits Dh1 trillion in Q3

Dubai, January 6, 2014

The trade reached Dh1.009 trillion by the end of Q3, compared to Dh918 billion for the same period in 2012, it said.

Dubai's non-oil foreign trade growth was the result of the increase in imports which reached Dh610 billion during the period, as compared to Dh546 billion in the same period last year. In addition, exports and re-exports rose to Dh399 billion, compared to Dh372 billion.

Direct trade accounted for 64 per cent of Dubai foreign trade, as it reached Dh649 billion by the end of Q3 2013, up from Dh595 billion for the same period in 2012. The share of free zones stood at 35pc (Dh348 billion, compared to Dh316 billion) and customs warehouse trade hit Dh12 billion, up from Dh6 billion.

India ranked first on Dubai's total non-oil foreign trade partner list; as trade volumes between them reached Dh111 billion, followed by China with Dh99 billion and the US with Dh65 billion.

China topped the list of import partners with a share of 16pc that is equal to Dh96 billion, followed by the US with a share of 9pc amounting to Dh58 billion and India with almost 9pc equalling Dh55 billion.

In exports, India came at the forefront of Dubai's trade partners with a share of 21pc of all exports, equalling Dh24 billion, followed by Turkey with 13pc (Dh15 billion) and Switzerland with 7pc (Dh8 billion).

As for re-exports; Saudi Arabia came first with a share of 12pc amounting to Dh33 billion, followed by India with 11pc (Dh32 billion) and Iraq with 7pc (Dh20 billion).

Gold was the biggest non-oil import item, followed by cellular and wired communication devices, diamond, cars, various jewellery types and pieces.